Azul (NYSE:AZUL) Shares Gap Up – Time to Buy?

Azul S.A. (NYSE:AZUL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.82, but opened at $1.94. Azul shares last traded at $2.01, with a volume of 928,994 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZUL. The Goldman Sachs Group decreased their price target on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Raymond James lowered their price target on Azul from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Finally, Seaport Res Ptn upgraded Azul from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.40.

Azul Trading Up 1.6 %

The stock has a fifty day moving average price of $2.00 and a 200-day moving average price of $2.61. The firm has a market capitalization of $817.85 million, a price-to-earnings ratio of -0.27 and a beta of 1.99.

Institutional Trading of Azul

Hedge funds have recently modified their holdings of the company. Inspire Advisors LLC grew its position in shares of Azul by 16.6% during the 4th quarter. Inspire Advisors LLC now owns 48,168 shares of the company’s stock worth $80,000 after buying an additional 6,844 shares during the period. Van ECK Associates Corp grew its stake in shares of Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock worth $106,000 after purchasing an additional 8,899 shares during the period. Two Sigma Securities LLC boosted its holdings in Azul by 44.6% during the fourth quarter. Two Sigma Securities LLC now owns 29,311 shares of the company’s stock worth $49,000 after buying an additional 9,038 shares during the last quarter. Creative Planning acquired a new position in shares of Azul during the 3rd quarter worth about $35,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Azul in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 0.82% of the company’s stock.

Azul Company Profile

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.